HFCL Limited

Telecommunication · Telecom - Services

NSE: HFCL BSE: 500183

₹227.02

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Telecom - Services

The largest companies in the same industry by market cap. This company ranks #6 of 20. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Bharti Airtel Limited	1,070,785	67.4	17.3%	-5.9%	1.37%	55	5	12
Vodafone Idea Limited	140,304	3.8	-96.6%	52.0%	—	14	100	28
Indus Towers Limited	98,456	13.8	18.0%	6.0%	3.75%	82	78	16
Bharti Hexacom Limited	71,225	39.1	24.2%	-14.2%	1.26%	69	31	12
Tata Communications Limited	47,204	62.0	27.3%	2.7%	1.06%	39	0	29
HFCL Limited (this stock)	34,748	63.6	6.7%	209.2%	0.09%	60	33	51
Railtel Corporation Of India Limited	8,526	24.6	15.3%	-30.8%	1.22%	72	39	49
Tata Teleservices (Maharashtra) Limited	6,705	180.5	1.1%	-37.8%	—	7	35	13

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹36,219 Cr

EV / EBITDA

36.5x

EV / Sales

6.77x

Market cap / Sales

6.50x

Earnings yield

1.57%

Quarterly Financials

Download CSV

Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 1,640 Cr, up 104.2% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	1,608	240	179	₹1.1700
March 31, 2026	1,511	216	178	₹1.5900
Dec. 31, 2025	1,224	79	56	₹0.3900
Sept. 30, 2025	1,003	90	61	₹0.4200
June 30, 2025	789	-63	-42	₹-0.2900
March 31, 2025	757	-93	-73	₹-0.5000
Dec. 31, 2024	961	107	78	₹0.5400
Sept. 30, 2024	1,012	104	75	₹0.5200
June 30, 2024	1,066	123	114	₹0.7900
March 31, 2024	1,238	153	115	₹0.8100
Dec. 31, 2023	954	103	78	₹0.5400
Sept. 30, 2023	1,002	90	68	₹0.4900
June 30, 2023	880	66	49	₹0.3500

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	1,640	1,534	1,239	1,018	803	773	982	1,025	1,077	1,251	1,001	1,019	893
Operating revenue	1,608	1,511	1,224	1,003	789	757	961	1,012	1,066	1,238	954	1,002	880
Other income	33	23	15	15	14	16	21	13	11	13	46	18	13
Operating expenses	1,304	1,222	1,068	844	790	800	816	864	900	1,052	855	888	785
Operating profit	304	289	155	159	-1	-43	145	148	165	186	100	114	95
Operating profit margin	18.9%	19.1%	12.7%	15.9%	-0.1%	-5.7%	15.1%	14.6%	15.5%	15.0%	10.5%	11.4%	10.8%
Depreciation	43	42	37	31	28	23	21	21	20	15	15	14	14
Interest	53	55	55	53	48	43	38	36	34	31	28	27	29
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	240	216	79	90	-63	-93	107	104	123	153	103	90	66
Tax	61	39	23	28	-21	-20	28	29	9	38	25	23	17
Net profit	179	178	56	61	—	—	78	75	114	115	78	68	49
EPS	1.17	1.59	0.39	0.42	-0.29	-0.50	0.54	0.52	0.79	0.81	0.54	0.49	0.35
Net profit (TTM)	474	—	—	—	—	—	383	382	375	310	245	247	255
EPS (TTM)	3.57	2.11	0.02	0.17	0.27	1.35	2.66	2.66	2.63	2.19	1.75	1.79	1.85

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	4,528	322	253
March 31, 2025	3,795	241	195
March 31, 2024	4,075	412	310
March 31, 2023	4,396	342	255

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	1.1%	2.2%	4,595^†	3,856^†	4,165^†	4,444^†	4,330^†	4,122^†	3,569^†	4,420^†	3,391^†	2,210^†
Operating revenue	1.0%	2.0%	4,528	3,795	4,075	4,396	4,286^†	4,106^†	3,547^†	4,370^†	3,366^†	2,191^†
Other income	—	—	67^†	61^†	90^†	48^†	44^†	16^†	22^†	50^†	25^†	19^†
Operating expenses	—	—	3,925^†	3,380^†	3,579^†	3,928^†	3,759^†	3,620^†	3,121^†	4,034^†	3,108^†	1,960^†
Operating profit	8.8%	4.4%	603^†	415^†	496^†	468^†	528^†	486^†	426^†	336^†	257^†	231^†
Operating profit margin	—	—	13.3%^†	10.9%^†	12.2%^†	10.6%^†	12.3%^†	11.8%^†	12.0%^†	7.7%^†	7.6%^†	10.5%^†
Depreciation	—	—	138^†	85^†	58^†	57^†	57^†	54^†	30^†	18^†	16^†	16^†
Interest	—	—	210^†	149^†	115^†	117^†	133^†	148^†	90^†	78^†	61^†	60^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	0^†	0^†	0^†	-4^†	0^†	0^†	-2^†	0^†
Profit before tax	-1.9%	1.7%	322	241	412	342	382^†	296^†	328^†	291^†	204^†	124^†
Tax	—	—	69^†	47^†	103^†	87^†	99^†	73^†	124^†	107^†	49^†	—
Net profit	-0.2%	2.6%	253	195	310	255	283^†	223^†	204^†	184^†	155^†	124^†
EPS	4.5%	4.1%	2.11^†	1.35^†	2.19^†	1.85^†	2.15^†	1.73^†	1.60^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	13.3%^†	10.9%^†	12.2%^†	10.6%^†	12.3%^†	11.8%^†	12.0%^†	7.7%^†	7.6%^†	10.5%^†
EBIT margin	11.8%^†	10.3%^†	12.9%^†	10.4%^†	12.0%^†	10.8%^†	11.8%^†	8.4%^†	7.9%^†	8.4%^†
PBT margin	7.1%	6.4%	10.1%	7.8%	8.9%^†	7.2%^†	9.2%^†	6.7%^†	6.1%^†	5.6%^†
Net margin	5.6%	5.1%	7.6%	5.8%	6.6%^†	5.4%^†	5.7%^†	4.2%^†	4.6%^†	5.6%^†
Interest coverage	2.53x^†	2.62x^†	4.59x^†	3.92x^†	3.88x^†	3.00x^†	4.64x^†	4.73x^†	4.34x^†	3.06x^†
Dividend payout	4.7%^†	14.8%^†	9.1%^†	9.7%^†	7.0%^†	0.0%^†	6.3%^†	—	—	—
Earnings retention	95.3%^†	85.2%^†	90.9%^†	90.3%^†	93.0%^†	100.0%^†	93.8%^†	—	—	—
Current ratio	2.09x	1.87x	—	—	—	—	—	—	—	—
Quick ratio	1.69x	1.61x	—	—	—	—	—	—	—	—
Debt to equity	0.31x	0.28x	—	—	—	—	—	—	—	—
Return on equity	5.3%	4.9%	—	—	—	—	—	—	—	—
Return on assets	3.1%	2.7%	—	—	—	—	—	—	—	—
Return on capital employed	10.2%^†	8.8%^†	—	—	—	—	—	—	—	—
Asset turnover	0.56x	0.53x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	-481	-278	719	206	-687
March 31, 2025	431	-505	111	209	222
March 31, 2024	-111	-410	480	138	-249
March 31, 2023	185	-11	-127	118	66
March 31, 2022	141	-388	242	98	43

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	8,131	4,727	4,574	1,154	335	6,060	2,896	17	730	1,166
March 31, 2025	7,179	3,963	3,818	768	329	5,137	2,740	58	469	731
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.